ALTA EQUIPMENT GROUP INC
For the period ended Mar 31, 2024. Filed May 8, 2024.
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Mar 31, 2024 · Filed May 8, 2024
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Earnings Per Share
NOTE 17 — EARNINGS PER SHARE
Basic earnings per share ("EPS") is calculated by dividing net income by the weighted-average number of common shares outstanding during the period and includes vested, unissued RSUs and ESPP shares and earned, unissued share consideration related to the Ecoverse acquisition. Diluted EPS is calculated by dividing net income by the weighted-average number of common shares outstanding, after giving effect to all potential dilutive common shares outstanding during the period. We include all common share equivalents granted under our stock-based compensation plan which remain unvested and shares used as consideration in the Ault acquisition which remain unissued ("dilutive securities"), in the number of shares outstanding for our diluted EPS calculations using the treasury method.
Basic and diluted EPS for thethree months ended March 31, 2024 and 2023 were calculated as follows:
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Basic net (loss) income per share | ||
| Net (loss) income available to common stockholders | $(12.7) | $0.2 |
| Basic weighted average common shares outstanding | 33,108,695 | 32,223,221 |
| Basic net (loss) income per share of common stock | $(0.38) | $0.01 |
| Diluted (loss) income per share | ||
| Net (loss) income available to common stockholders | $(12.7) | $0.2 |
| Basic weighted average common shares outstanding | 33,108,695 | 32,223,221 |
| Effect of dilutive securities: | ||
| Effect of dilutive securities | — | 207,494 |
| Diluted weighted average common shares outstanding | 33,108,695 | 32,430,715 |
| Diluted net (loss) income per share of common stock | $(0.38) | $0.01 |
Approximately 1,161,000 securities were excluded from the calculation of diluted loss per share for the three months ended March 31, 2024, because the inclusion of such securities in the calculation would have been anti-dilutive.
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